Americas top stories: weekly summary
ICIS Editorial
25-Mar-2024
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 22 March.
AFPM ’24:
INSIGHT: Biden ending term with regulatory bang
for US chems
The administration of US President Joe Biden is
proposing a wave of regulations before its term
ends in 2025, many of which will increase costs
for chemical companies in the US and persist
even if the nation elects a new president later
this year.
AFPM ’24: US
petrochemicals exports to become growing force
but geopolitical risks loom
In an era of intensifying global competition,
the US petrochemical industry is primed to
become a growing force as an enviable cost
position from shale gas enables it to run at
high rates and ramp up exports, especially in a
high crude oil price regime.
AFPM ’24: Red
Sea, Panama issues to pressure shipping amid
possible US port labor
conflict
The 2024 shipping outlook seems dire amid a
drought in Central America that has lowered the
number of ships allowed to pass through the
Panama Canal and rebel attacks in the Red Sea
that have led most carriers to divert away from
the Suez Canal.
AFPM ’24: LatAm
petchems brace for slow path to recovery with
all eyes on China
The petrochemicals downturn in Latin America is
likely to be the longest ever as Chinese and
global overcapacities dampen prices in the
world’s quintessential “price taker” region for
chemicals.
AFPM ’24:
INSIGHT: New US auto emission rule to boost
plastic demand, squeeze
refiners
The new greenhouse gas restrictions that the US
imposed on automobiles will speed up the
adoption of electric vehicles (EVs), which will
have several knock-on effects on plastics,
lubricants and chemicals produced by
refineries.
AFPM ’24:
INSIGHT: US Q1 base oil glut indicates that
historic weak demand
persists
Historically weak base oil demand in the US has
resulted in oversupply and unprecedented price
spreads between producer posted prices, ICIS
domestic market prices and ICIS spot export
prices heading into this year’s International
Petrochemical Conference (IPC).
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